CNBC's Andrew Ross Sorkin reports on the latest news of Warner Bros. Discovery reportedly rejecting a takeover bid from Paramount Skydance.

Warner Bros. Discovery has reportedly rejected a takeover bid from Paramount Skydance, considering the offer of approximately $20 per share to be undervalued. The bid, led by Paramount CEO David Ellison, may still be revised or taken directly to Warner Bros. shareholders, with the possibility of seeking additional financial backing.

Industry analysts have suggested that Paramount may be better served by investing in its own content and technology rather than pursuing acquisitions. The situation has also sparked speculation about other potential bidders, such as Comcast, and whether regulatory approval would be granted for any such deal.

Warner Bros. Discovery reportedly rejects takeover bid

Welcome back to Squawk Box. Well the world turns in the world of media. And here's a new one for you but maybe not new because I think we've been talking about the possibility of this for quite some time. Warner Brothers Discovery rejecting what it sees as an undervalued takeover bid from Paramount Skydance. That's according to a Bloomberg report. A couple of other reports trying to confirm some of that news. A report saying that Paramount's offer was about 20 dollars per share. Now Warner Brothers per Warner Brothers share that is. Reports also say Paramount CEO David Ellison could potentially increase his bid appeal directly to Warner Brothers shareholders or seek additional financial backing. We had heard a couple of reports even last week that there was conversations with some private equity firms and other things. You're looking right now at Warner Brothers stock at 1765. So you could see why a 20 dollar bid might not run a little. The trick gone up a little gone up a little bit on the back. But it's gone up a little bit more than a little bit on the back of just the possibility. But that Warner Brothers might be coming like seven. That's what I mean. Yeah I think it's like comes next. Like seven or eight. Yeah. All right. What comes next as they go hostile. Do they raise their bid. Like what are the options on the table. I think the options on the table is just go away. Just to go big. Yeah. To go big. Interestingly Rich Greenfield who we have on the broadcast all the time put out a report saying if you're David Ellison don't do this. That actually that the better path wait till they split was no. His argument was just invest in your own content. Invest in technology. You don't need everybody else's libraries. Did you see up up up up up. Comcast shares on Friday. I think it was down but twenty nine. Yeah. And change. Everyone says they're waiting in the Brian Rodgers waiting in the wings to do this. And that that's who's going to finally. In fact he. I don't know if it's true. I think this is you know the guy at Fox that we used to work with all the time. Casper Reno. Oh yeah. That Comcast is most likely and that it would kill Brian if he let you know Ellison come in. Right. But the question has always been a different one which is actually does Washington allow. I believe. Right. I understand with the way I think of it. I mean the president has been called a Comcast. So I understand as well as anyone that whether you can get that. I might be able to get it. You think you could. You know but now you're part of person there. I think I could talk to the president. I don't know if you might say you know. Sorry Joe. Take a hike. I don't know how deep seated some of the feel. I think they're pretty deep seated. So Trump's problems.

U.S. President Donald Trump is heading back to the U.S. after his whirlwind trip to the Middle East, where he celebrated the first phase of a peace plan between Israel and Hamas.

Sharm El-Sheikh

Middle East Conflict

Trump, world leaders sign Gaza peace plan and discuss next steps

The government shutdown entered its third week on Monday as the Senate is set to reconvene on Tuesday. CBS News' Nikole Killion has more from Capitol Hill.

Washington

Shutdown drags into third week as Senate set to reconvene

Madagascar's President Andry Rajoelina has been flown out of the country in a French military plane, officials have said, after an elite army unit defected to join thousands of protesters demonstrating against corruption and poverty.

Antananarivo

Madagascar's president has fled, officials say, amid Gen Z protests

U.S. President Donald Trump was greeted in Tel Aviv with cheers and a military ceremony as he met families of hostages held in Gaza and addressed Israel's parliament. He now travels to Sharm El Sheikh, Egypt, to join world leaders in discussions on Gaza's future.

Tel Aviv-Yafo

Trump meets with Israeli leaders and hostage families

Twenty living hostages were released by Hamas after more than two years in captivity as a ceasefire continues to hold. Families in Israel describe emotional reunions while others continue to await confirmation about missing relatives.

Families reunite as ceasefire brings hostages, prisoners home

Israeli officials have confirmed that all 20 living captives have been released in Gaza.

Israel confirms all 20 living captives in Gaza have been released

The carefully choreographed Israel-Hamas exchange is underway, with Israel set to release around 2,000 Palestinian prisoners following the release of remaining hostages held in Gaza. Noga Tarnopolsky reports from Tel Aviv’s Hostage Square.

Israel-Hamas swap begins as 2,000 Palestinian prisoners set for release

Following his visit to Israel, President Trump will stop in Egypt to co-host a major summit in Sharm el-Sheikh alongside Egyptian President Abdel-Fattah el-Sissi. The meeting will bring together leaders from more than 20 countries to discuss efforts toward peace in Gaza and the wider Middle East.

Donald Trump to co-host chair Gaza peace summit in Egypt

The French presidency announced Prime Minister Sebastien Lecornu's new cabinet line-up on Sunday (October 12), with most top jobs remaining unchanged at a time when opponents are demanding a political shift to win their support for urgent budget talks.

Paris

French presidency unveils new cabinet as budget pressure intensifies

Seven captives have been handed over to the Red Cross, who will facilitate their transfer to Israeli forces.

Israeli military says Red Cross has received 7 captives in Gaza

On his way to the Middle East, U.S. President Donald Trump told reporters he expects the ceasefire between Israel and Hamas to hold, despite concerns Hamas won’t abide by the deal.

Trump says the 'war is over', Gaza rebuild to start immediately

China on Sunday (October 12) called U.S. President Donald Trump's latest tariffs on Chinese goods hypocritical and defended its curbs on exports of rare earth elements and equipment, but stopped short of imposing new levies on U.S. products.

Beijing

Global Tariffs

Beijing blames U.S. for trade tensions, defends rare earth curbs

Afghanistan and Pakistan said they killed dozens of each other's troops during a night of heavy border clashes between the two countries. Afghanistan's Taliban forces launched attacks on Pakistani troops along their shared border in what it called "retaliation for air strikes carried out by the Pakistani army on Kabul".

Chaman

Border clashes between Afghanistan and Pakistan leave dozens dead

A ceasefire between Israel and Hamas held in Gaza for a third day ahead of the expected release of Israeli hostages and Palestinian prisoners and an address by U.S. President Donald Trump to Israel's parliament.

Ceasefire holds in Gaza ahead of hostage release, Trump visit

Zelenskyy called Trump for a second consecutive day to discuss defence and Ukraine's energy sector. It comes as Russia further intensifies its attacks on Ukraine's critical infrastructure ahead of its harsh winter.

Kyiv

Ukraine Invasion

Zelenskyy has second call with Trump amid Russian strikes

On Sunday, the minister of armed forces in Madagascar acknowledged an officer selected by a military group supporting demonstrators calling for President Andry Rajoelina to resign as the country's new army chief.

Madagascar’s president says coup underway

With a trade war between the U.S. and China intensifying ahead of a Nov. 1 tariff deadline, there’s growing concern Beijing will use Taiwan as a bargaining chip.

Taipei City

Growing fear China will use Taiwan to bargain with U.S.

In a televised address ahead of the planned release of Israeli captives and Palestinian prisoners, Israeli Prime Minister Benjamin Netanyahu called for unity despite ongoing divisions.

Netanyahu urges Israel put aside ‘differences’ with Gaza

U.S. President Donald Trump blamed Democrats for his decision to lay off thousands of workers across the U.S. government as he followed through on his threat to cut the federal workforce during the government shutdown.

Trump lays off thousands of U.S. government workers amid shutdown

Thousands gathered in Tel Aviv as 48 of the last remaining hostages are expected home after two years of the Israel-Hamas war. The crowd cheered Donald Trump as the peace deal's broker but there were jeers for Israeli Prime Minister Benjamin Netanyahu.

Tel Aviv braces for hostage release planned for Monday

Diane Keaton, the Oscar-winning star of Annie Hall and The Godfather films, died Saturday at the age of 79, according to U.S. media reports. Entertainment journalist Johanna Schneller remembers Keaton as 'feisty and funny'.

Hollywood

Oscar winner Diane Keaton dead at 79

Former President Biden is now receiving radiation and hormone therapy to treat his prostate cancer, an aide said. The cancer is considered aggressive.

Biden receiving radiation, hormone therapy to treat aggressive cancer

It is unclear how many people were inside the Tennessee plant that exploded on Friday, but at least 16 people were reported on Saturday. Sheriff Chris Davis announced that there are no survivors. Nicole Valdes reports.

Tennessee

No survivors in Tennessee plant explosion, sheriff says

Thousands of pro-Palestinian protesters in London marked two years since the War in Gaza. However, the British government has seen enough. Haley Ott reports that police have been given sweeping powers to curb repeated demonstrations.

London

British Parliament designates Palestine Action a terrorist organization

Middle East Envoy Steve Witkoff has addressed hundreds of thousands of Israelis in what's known as “Hostages Square” in Tel Aviv. Witkoff hailed President Donald Trump for securing the ceasefire. The crowd was less receptive to his praise for Benjamin Netanyahu.

U.S. envoy booed for praising Netanyahu at Tel Aviv rally

A ceasefire is in effect between Hamas and Israel after just over two years of war. An exchange of Israeli hostages and Palestinians held prisoner is set to take place in the coming days, and U.S President Donald Trump is set to visit the region on Monday.

Trump set to visit Middle East as peace plan take effect

The families of hostages taken by Hamas on Oct. 7, 2023 are eagerly awaiting the return of their loved ones. The peace deal between Israel and Hamas would see the hostages returned within 72 hours of its implementation Friday.

Families of hostages in Gaza await their release

Ukrainian President Volodymyr Zelenskyy says he's had phone calls with Prime Minister Mark Carney and U.S. President Donald Trump about defence and energy infrastructure. Russian strikes have led to widespread blackouts in Ukraine.

Trump holds call with Zelenskyy after Russian strikes

Gaza City lies in devastation — returning Palestinians find their homes reduced to rubble and familiar streets erased. It comes after a U.S-brokered peace deal came into effect.

Sderot

Gaza City in ruins as Palestinians return to find only rubble

About 200 U.S. troops have begun arriving in Israel to set up a coordination center aimed at facilitating the flow of humanitarian aid, as well as logistical and security assistance into Gaza. They are not expected to enter the territory.

Breakdown